Research On The Innovative Development Mechanisms Of Private SMEs

Non-public economy is an important part of China’s economy. Since the reform and opening up, the proportion of private economy in China’s economic structure has expanded gradually. Private economy has made a great contribution to the development of China’s economy and society. Developing private economy is an important way to solve the urban and rural employment, is the power source to promote the reform of state-owned enterprises (SOEs), is an important force to stimulate the innovation vitality of society, and is an important mean to promote the development and improvement of China’s market economy system.Private small and medium enterprises (SMEs) usually refer to the relatively small-scale private enterprises. Private SME is one of the important subjects of China’s private economy. Currently, China’s economy is in a critical period of transformation and upgrading, and China’s economy and society are entering a "New Normal". China’s economy is facing multiple pressures, including structure adjustment, mode transformation, and development promotion. In order to achieve the speed adjustment while continuing unabated, quantity increased while quality is better, private economy can play an important role. Particularly, private SMEs are promising. Under the "New Normal", personalized, diversified, decentralized consumption become the mainstream. The investment opportunities of some new products, new technologies, new formats, and new business models emerge in large numbers. All of these have provided opportunities for private enterprises, especially private SMEs, to promote innovation and turn overtaking. However, only through innovation, private SMEs can obtain sustainable competitive advantages in the "New Normal", can play a more important role in the economic transformation and upgrading and in promoting the implementation of innovation-driven development strategies.This thesis mainly studied the innovative development mechanisms of the private SMEs. After analyzing the relevant theories and research status, this thesis focused on the financing mechanism innovation, talent mechanism innovation, and innovation capability improvement mechanism of private SMEs. Specifically, the research contents of this thesis are as follows.(1) Financing mechanism innovation of private SMEs. First, the financing channels, including endogenous financing and exogenous financing, and financing status of private SMEs are analyzed. The private small and medium banks (SMBs) that are being pilot in China, as an emerging exogenous financing method, are focused. Then, the financing mechanism innovation of SMEs based on Internet Financing is studied. The development status of Internet Financing and the innovative mechanisms it supports the SMEs financing are analyzed. The risk prevention strategies of SMEs financing based on Internet Financing are proposed. Finally, the industry consolidation platform model was established, in which "industry+Internet+financial capital" is the core, Industrial Internet is the path, and the top level design of financial capital is the driver. The financing innovative mechanism of private SMEs based on industry consolidation platform is proposed. The case study of jmu is presented.(2) Talent mechanism innovation mechanism of private SMEs. First, the significance of talent capital in the innovation of private SMEs is analyzed. Then, the talent strategy innovations of private SMEs, including talent training innovation mechanism, talent evaluation innovation mechanism and talent capitalization innovation mechanism, are mainly studied. Finally, the talents gathering and enterprise culture innovation strategies of private SMEs, including the impact analysis of enterprise culture innovation on talents gathering, and the enterprise culture construction innovation towards talents gathering, are explored. The case study of jmu’s talents gathering and enterprise culture innovation is presented.(3) Innovation capability improvement mechanism of private SMEs. First, the innovation capability evaluation model and methods of private SMEs are established, including the innovation capability evaluation of private SMEs based on innovation performance and innovation process. The influencing factors of innovation capacity, the composition of innovation capacity, as well as the construction of innovation capability appraisal index are analyzed. Finally, the innovation capability improvement mechanisms are proposed, and the case study of jmu is presented.The innovation points of this thesis are as follows.(1) An industry consolidation platform model was established, in which "industry+ Internet+financial capital" is the core, Industrial Internet is the path, and the top level design of financial capital is the driver. This platform integrates the supply chain, industrial chain, capital chain and value chain of private SMEs. The financing innovation mechanism of private SMEs based on the industry consolidation platform is proposed.(2) The talent capitalization innovation mechanism of private SMEs is proposed. Also, the enterprise culture innovation mechanism of private SMEs towards talents gathering is proposed.(3) The model and methods of the innovation capability evaluation of private SMEs are presented. Also, the innovation capability improvement mechanisms of private SMEs are proposed.